Coronation is top asset manager for fifth time
Three larger Cape Town-based asset managers took the honours for the domestic management companies of 2013 at this year’s prestigious Raging Bull Awards held at Kirstenbosch in Cape Town this week.
Coronation Fund Managers claimed the Raging Bull Award for the Management Company of the Year for a record-breaking fifth time at the ceremony, which was co-hosted by Personal Finance, ProfileData and PlexCrown Fund Ratings.
Allan Gray and Nedgroup Investments received certificates for their second and third places in the management company rankings respectively, based on the performance of their funds over five years to the end of last year.
Although the “big names” took the top company awards, a number of key awards for fund performance went to boutique managers, including the Raging Bull Award for the best equity fund over three years to the end of last year, which went to Mazi Capital MET Equity Fund, and the Raging Bull Award for the best multi-asset flexible fund on a risk-adjusted basis over five years, which went to the 36ONE MET Flexible Opportunity Fund.
The Raging Bull Award for the best offshore global equity fund over three years, among the managers approved by the Financial Services Board (FSB) for South African investors went to Contrarius, a boutique manager based in Jersey, for its Global Equity Fund.
The other Raging Bull Awards for performance in the major unit trust sub-categories went to:
* Coronation, for its Strategic Income Fund, which was the best fixed-interest fund over three years to the end of December; and
* Old Mutual, for its Global Equity Fund, which was the best rand-denominated global equity fund over three years.
The Raging Bull Awards for risk-adjusted performance over five years went to:
* Marriott, for its Dividend Growth Fund, which was the best South Africa general equity fund;
* Prescient, for its Positive Return QuantsPlus Fund, which was the best multi-asset equity fund; and
* London-based Lloyds Investment Fund Managers, for its Multi-Strategy (Growth Strategy) Fund, which was the best performer among South African-registered offshore managers in the global asset allocation sector.
The leading fund management companies were chosen based on the performance of all their funds under management on a risk-adjusted basis for periods up to five years to the end of 2013.
Coronation, Allan Gray and Nedgroup Investments have been jostling for the top three positions for the past three years, and each of them has been among the top three numerous times in the 18-year history of the Raging Bull Awards.
Coronation claimed the award in 2003, 2005, 2006 and 2013, and has been among the top three management companies nine times in the past 18 years of the Raging Bulls.
Coronation has also consistently collected Raging Bull Awards and certificates for its funds over the years. This year, in addition to its Raging Bull Award for the best South African fixed-interest fund, it collected five certificates, for its Strategic Income Fund (best multi-asset income fund); Global Capital Plus (ZAR) Fund (best global multi-asset low equity fund); Global Managed (ZAR) Feeder Fund (best global multi-asset high equity fund); Optimum Growth Fund (best worldwide multi-asset flexible fund); and Global Managed Fund (best offshore global asset allocation fund).
Allan Gray won the management company of the year award for four years in a row, from 2009 to 2012.
This year, Allan Gray collected one certificate for top performance by its Bond Fund on a risk-adjusted basis over five years to the end of last year.
Third-placed Nedgroup has been among the top three South African fund managers for the past five years. This year, it scooped four certificates for top performance over three years to the end of last year by its Financials Fund, Mining & Resources Fund, Entrepreneur Fund and Property Fund, and a certificate for the risk-adjusted performance over five years in the interest-bearing short-term sub-category by its Core Income Fund.
The offshore fund manager of the year – the top-performing manager on a risk-adjusted basis among the offshore managers with funds approved by the FSB – was awarded to Lloyds Investment Managers, on the basis of its award-winning global asset allocation fund and other top-performing funds.